Flutter Entertainment stock rating reiterated at Market Outperform by JMP

Investing.com

Published Jul 07, 2025 06:39AM ET

Flutter Entertainment stock rating reiterated at Market Outperform by JMP

Investing.com - JMP analyst Jordan Bender has reiterated a Market Outperform rating on Flutter Entertainment (NYSE:FLUT) with a price target of $301.00. According to InvestingPro data, the company's stock has shown strong momentum with a 44% return over the past year, while maintaining a market capitalization of $49.4 billion.

The analyst maintained the positive outlook on Flutter Entertainment, which operates TVG, a horse racing wagering platform that represents approximately 1% of the company's projected 2024 revenue. With total revenue of $14.3 billion in the last twelve months and a robust revenue growth of 16.7%, Flutter shows promising financial performance. Get comprehensive insights and 12 additional key tips about Flutter Entertainment with InvestingPro .

JMP noted that horse racing providers operate on a take-rate model that benefits from high volume, with "all players welcome" to participate in the wagering ecosystem.

The firm highlighted that Flutter Entertainment maintains a diversified customer base that includes international VIP players who are not subject to certain tax adjustments affecting the horse racing industry.

JMP also mentioned Churchill Downs (NYSE:NASDAQ:CHDN) in its analysis, another company with horse racing exposure through its TwinSpires platform, which represents approximately 10% of Churchill's projected 2024 revenue.

In other recent news, Flutter Entertainment has been the focus of several analyst reports and company developments. HSBC raised its price target for Flutter Entertainment to $259, maintaining a Hold rating, while cautioning investors about limited fundamental upside. Bernstein reiterated its Market Perform rating with a $275 price target, highlighting Flutter's growth potential in the U.S. and concerns over potential regulatory changes in the U.K. Meanwhile, Citizens JMP reaffirmed a Market Outperform rating, maintaining a $301 price target and emphasizing Flutter's unmatched earnings power in the gaming space.

Additionally, Flutter Entertainment announced a new transaction fee for FanDuel customers in Illinois, responding to a state-imposed betting transaction fee effective in 2025. This move aims to offset costs from Illinois' increased betting tax rate, which FanDuel had previously absorbed. Flutter's CEO expressed concerns about the fee's impact on recreational customers and its potential to drive bettors to unregulated operators. Despite these challenges, analysts remain confident in Flutter's strategy and market position, particularly in the sports betting sector. These developments reflect the company's ongoing efforts to navigate regulatory landscapes and maintain its competitive edge.

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